Formula One chiefs investigating possibility of race in Vietnam as replacement for Malaysian Grand Prix

Liberty Media, who own the racing company, want to hold a race in Ho Chi Minh City

SunSport understands that officials have travelled to the South East Asian country with a view to staging a race in Ho Chi Minh City.

F1 chief Chase Carey is open to a race taking part in Vietnam

There are currently three Formula One races in the region

While discussions are still in the early stages, several sponsors, including brewing giant Heineken, are keen to increase their market share in the Asia-Pacific region.

Last year, the country opened its first professional racetrack, although it is currently some way short of the requirements set out by the sport’s governing body.

Meanwhile, former F1 supremo, Bernie Ecclestone said April that he turned down the chance of hosting a race in Vietnam, as the country had no “racing history”.

Ecclestone also revealed that he felt that with Singapore, Malaysia and China on the calendar it would be too much to have a GP in Vietnam as well.

He said: “Last year I was approached about having a race in Vietnam. I was offered the opportunity to meet the president about doing a deal for a Grand Prix.

“I could have done the deal and signed it in August.

Liberty Media, who own the racing company, want to hold a race in Ho Chi Minh City

Bernie Ecclestone admitted he turned down the chance to hold a race in Vietnam last year

The Malaysian Grand Prix organisers are set to end their contract with F1

“Everything was arranged for this to happen but I didn’t do the deal because we already have quite a few races in that part of the world and I thought it might be a little bit over the top to have another one.”

However, given that the organisers of the Malaysian GP will terminate their contract with F1’s owners Liberty Media after this season, it would allow F1 to keep three races in the region.